Malaysiakini ran an article a couple of days ago on the luxury condo market in the heart of Kuala Lumpur. Apparently, prices for these luxury condo units adjacent to KLCC or Petronas Twin Towers have dropped by as much as 30%.
If you remember, I am looking for a property to invest in and in fact, even proposed to a friend to joint venture with me and share a property. I know this is pretty risky but that’s the only way I could own a property. Unfortunately, even with prices down by 30%, I still could not afford to buy even if I get a few like-minded friends together and pool our funds. I am wondering if prices will drop further. I am waiting!
Meanwhile, I was informed of this VI property raffle to win one of the luxurious St. Thomas Villas
in OceanCliff just by purchasing a raffle ticket of US$100. It sure is a great opportunity to own such a villa, something that I would not even dare to dream of otherwise!
I take this as a sign to hold my horses from purchasing a condo in KL. I might as well mobilize some funds to purchase raffle tickets instead and I may just have the luck to own an US$2 million OceanCliff villa in the Virgin Islands!